Many EU countries have a “VAT” and like feel like this is kinda targeting poor people. Like, for the rich, this is insignificant, for poorer people, a (example) 20% tax would be a huge burden. Why do they do this?

🤔

  • @MothmanDelorian
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    32 days ago

    And this is why the 1983 tax cut in the US increased revenue as at the reduced rates more wealthy people paid rather than avoided taxes.

    • @Lauchs
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      42 days ago

      Oh interesting, I wasn’t aware there were actually examples of the Laffer curve working in reality! I alwats thought it was just a theoretical that conservatives had latched onto…

      • @MothmanDelorian
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        62 days ago

        It is the only incident of Laffer being proven correct as far as I know. It is the 2nd to last time spending was cut along side taxes.

        • @Lauchs
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          22 days ago

          Cool to know about, thanks!

          • @MothmanDelorian
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            12 days ago

            Sadly we should cit spending along side tax cuts. Had we done that things would be better

            • @Lauchs
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              22 days ago

              Honestly, I’m just not sure deficit spending outside of wars/economic emergencies was a great strategy and instead, a time bomb Reaganomics left everyone else to deal with. I think that’s the ridiculously outsized part of spending that would’ve been the best to cut. If I remember correctly, servicing the debt is now on par with American military spending…

              • @MothmanDelorian
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                12 days ago

                Yeah but honest well thought out economic conservative budgets are rare and unpopular.

                • @Lauchs
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                  11 day ago

                  Yeah, I’m not sure I’ve seen any of those in my lifetime. I’m Canadian and even Steven Harper, who would be almost a Democrat by American standards, wanted to go to war with the census for Reasons.

                  Broadly though, my understanding of Conservative values, peeling back the state, more self reliance etc is broadly unpopular to the many who think the state has a big role to play in social welfare from education to healthcare

                  If you could offer just rough ideas/goals, what would your sane, honest Conservative budget feature? Not looking to fight just genuinely curious. (No numbers obviously but like what would you want to cut. No vague “government waste” though please.)

                  • @MothmanDelorian
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                    21 day ago

                    I don’t mean specifically politically conservative rather an economic conservative plan. It wouldn’t be too crazy if we cut taxes and cut spending at the same time. That’s unpopular though because so many never studied econ